Supply And Demand Trivia Quiz
5 Questions
| Total Attempts: 1319
To test the knowledge of students on the topic of supply and demand.
Questions and Answers
- 1.Price is the determining factor of both suppy and demand?
- A.
True
- B.
False
- 2.The law of supply clearly states that
- A.
The more people want the more supplied
- B.
The lower the price level the more produced
- C.
The higher the price level the more produced
- D.
What is supplied is all that is available
- 3.The demand curve has a slope.
- 4.Demand
- A.
Is the amount supplied
- B.
The quantity desired by the people at a certain price level
- C.
Is what people what at a certain time
- 5.The law of demand states that at a higher price people will demand wil be demanded.
This quiz covers the basics of demand & supply. All questions come from your Introduction to Demand, Introduction to Supply, and Determining Price Notes. You will have 1 minute to answer each question.
Questions: 10 | Attempts: 15200 | Last updated: Jan 5, 2021
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Sample QuestionWhich of the following is not a component of demand?
Supply and demand affects the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. This is the major market driver and hence necessary to know about.
Questions: 10 | Attempts: 5698 | Last updated: Sep 5, 2017
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Sample QuestionA group of people buying and selling goods or services. This is the definition for:
You will have 30 minutes to complete the 10 question quiz by Monday night at 11:59 p.m.
Questions: 10 | Attempts: 1875 | Last updated: Jan 7, 2013
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Sample QuestionA price floor is binding if:
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